Quick Summary
First Trade Research is a SEBI-registered Research Analyst firm in Indore, run by proprietor Amit Mishra under registration INH000018753, received in November 2024. It holds BSE enlistment 6407 and offers manual research plus algo-based products, Algo Index and Algo Options. This page covers the full company profile.
A Telegram forward lands in your phone, and somewhere in the noise, First Trade Research comes up.
An ad promises “maximum profit every day,” and a friend mentions a subscription that sounds too good to skip.
Here’s the complete company profile, registration, and pricing before you pay anything.
First Trade Research operates as a SEBI-registered Research Analyst firm.
It’s based in Indore, Madhya Pradesh.
First Trade Research Company
First Trade Research operates as a Research Analyst firm, based in Indore, Madhya Pradesh.
The firm runs two distinct service lines. Alongside manual research services, offering traditional stock recommendations, it also operates an “AI Services” section, offering two algo-based products, Algo Index and Algo Options.
These algo products come with their own specific regulatory framework, product pricing, and a real fee-cap question worth understanding in detail.
Rather than repeat that full breakdown here, our page on the First Trade Research algo review covers every product, the pricing tiers, and what SEBI’s 2025 algo framework actually requires.
First Trade Research Proprietor Details
The firm is run by proprietor Amit Mishra, who holds the SEBI Research Analyst registration personally under number INH000018753.
As a sole proprietorship, Mishra carries the registration and the regulatory accountability personally.
There’s no separate board or independent compliance layer between him and the firm’s day-to-day conduct.
This registration was received in November 2024, making First Trade Research a relatively new entrant, operating for just over a year at the time of this review.
The firm also carries BSE enlistment number 6407, the separate exchange-level enlistment every Research Analyst needs alongside its core SEBI registration.
Is First Trade Research SEBI Registered?
Yes. The firm holds an active SEBI Research Analyst registration, INH000018753, under Amit Mishra.
Registration alone confirms the firm cleared SEBI’s eligibility bar.
It doesn’t confirm how the service is delivered once you’re a paying subscriber.
A proper check on SEBI’s own portal should confirm these details.
- The registered entity name matches “First Trade Research” or Amit Mishra as proprietor.
- The registration status reads Active, not Suspended or Cancelled.
- The registration date aligns with November 2024.
- The registration number reads exactly INH000018753, with no digits missing.
Verifying takes about two minutes on SEBI’s intermediary portal.
- Go to SEBI’s official intermediary portal.
- Select Research Analyst as the category.
- Search the firm’s name or registration number directly.
If any detail doesn’t match exactly, treat that as reason enough to pause before paying anything.
Also Read: Manish Goel research analyst, ₹11.8 lakh, five years, no refunds mentioned.
What Does First Trade Research Actually Charge?
Both the manual research services and the algo products carry structured, tiered pricing.
The algo pricing specifically raises a real fee-cap question worth understanding in full, since certain plans, when renewed continuously, can annualise well past SEBI’s ₹1,51,000 individual cap.
The complete pricing tables for both algo products, along with the exact math on where each plan crosses SEBI’s cap, are covered in full on our First Trade Research algo review page.
What Do Real Users Say About First Trade Research?
Beyond the registration and product pages, real subscribers have raised formal complaints, and the pattern is worth reading closely before you pay anything.
The firm’s own complaint board shows a real, documented volume worth understanding in full, along with genuine contradictions found across its grievance page and disclaimer.
The complete breakdown, including the firm’s own complaint data and specific inconsistencies found across its published pages, is covered in full on our page on First Trade Research reviews.
Already dealing with something you think crosses a line at First Trade Research?
Tell us what happened, and we’ll review your case to see if it’s worth filing a formal complaint.
What Should You Check Before Subscribing to First Trade Research?
Everything covered so far tells you what First Trade Research is on paper. What actually protects you is what you verify yourself, before any money changes hands.
A few concrete things worth confirming:
- Verify the registration number directly on SEBI’s own portal.
- Ask for a proper invoice for every payment, not just a UPI confirmation.
- Confirm in writing exactly which segments and services your plan covers.
- Treat any “guaranteed profit” promise as a serious red flag.
Already Have an Issue With First Trade Research?
If your experience doesn’t match what was promised, a defined process exists for raising it.
Start with the firm directly, then escalate through SEBI’s official channels if needed.
The complete step-by-step route is covered in our guide: how to complain against First Trade Research.
Disclaimer: This page reflects publicly available records and the firm’s own published disclosures at the time of writing. No SEBI adjudication order has been issued against First Trade Research as of this writing.
Conclusion
First Trade Research holds a genuine, active SEBI registration under Amit Mishra.
It has operated out of Indore since November 2024, and that much checks out as a real, licensed business.
Whether the service performs as marketed is a separate question, one that depends on how the algo pricing actually plays out and how the firm has handled real subscriber complaints.
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Frequently Asked Questions
Amit Mishra, holding SEBI Research Analyst registration INH000018753, operating out of Indore, Madhya Pradesh.
November 2024, making it a relatively new entrant to the Research Analyst space.
Manual research services alongside two algo-based products, Algo Index and Algo Options, under its "AI Services" section.
Yes, BSE enlistment number 6407.
No SEBI adjudication order has been issued against the firm as of this writing.
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